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Old 26-12-2016, 11:57 PM
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Default New To Trading

Those new to trading my suggestion:=

1) Choose time frame, remember the smaller the time frame the fluctuation is more, we have a tendency to go for smaller time frames
mainly Leverage allures & whatever happens no sleepless night,
2) Read books, not on Technical Analysis but on Money Management & Risk Management books first.
3)Never go for high funda concept or software, actually, those are irrelevant.
4)Don't ask for super duper indicators or trading system, unless you understand step by step of how the logic is being unfolded in each line of the code what worth is it for you.Building indicator or system is Graduation not 1st step all throughout your trading life always believe Mkt is the best teacher & investing simple 1000/= will tell you but paper trading is useless (my view).
5) Market is either in trending phase or suddenly it may enter choppy stage, NO indicator works on both stage, hence sermons like 'Ride the Trend' (Sir it enters into trend only AFTER non-trending stage or long term reversal but that too is not a straight line & when i know it is in trend by that time 30 to 40 % over stop is far away & risk reward skewed) hence First start of by finding bottom or top REVERSAL.
6) Reversal to MEAN is always true in any mkt in any time frame but that gives small % still start with that only first.
7)No system or concept (Market Profile etc) is no worth unless YOU find yourself what is your STYLE your comfort zone otherwise like a mad scientist searching for Holy Grail you are wasting time.
8) Eternal truth for ant Mkt is Reversal to Mean but that is when in a long trend, so identifying consolidation stage is important, start with that difficult stage which you tackle later on.

Am here to answer your queries & may share few of my own code in Metastock but first, you start & take few steps.
Once 15 yrs back i asked thru mail to Larry Gomes (he won consecutive 3 yrs in world trading contest & 4th yr his daughter won) that kindly correct my indicator & why i am failing he replied do the opposite direction,the mail disturbed me & was upset but few weeks after i thought how true Direction is wrong otherwise opposite trades would have given me profit,so there is MONEY in the Market i am a super fool Mkt is always giving profit)

Last edited by uasish; 27-12-2016 at 12:07 AM.
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Old 27-12-2016, 08:59 AM
asnavale asnavale is offline
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Very good and simple to understand.

-Anant
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Old 27-12-2016, 09:42 AM
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@uasish sir, nicely put for the new and veterans alike, even veterans tend to stray away from course than the naive . Well if you ask me what to do initially for a new entrant in the market, I would suggest, just watch one scrip in one time frame of your choice, for atleast an year , on every trading day, no exceptions, and write down your own observation, till that time stay away from everything, if want to execute, trade only 01 no in cash. No book/coach/course/system etc can replace the screen time experience. Welcome to the world of ifs and buts lastly.
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Old 27-12-2016, 12:02 PM
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hi

first learn then remove l and earn.even 1000 RS is valuable if we consider it as an investment in market place.
paper trade gives a baby seat environment and comfort-zone to our mind to certain point but
before going for real trading you need to have some practice like noting down the tpo's day type failed auction and type of open etc. ie. for based on mp based method as jim dalton suggest's in his videos. each method should have certain point to write it out.





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Consider us a dumb -dumble guy in this analysis, any type of real time example will be quick-learn approach.

Last edited by nTP; 27-12-2016 at 01:06 PM.
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Old 27-12-2016, 10:20 PM
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If i say NOTHING complicated hi-fi is reqd only depending on simple things ,which can be understood by any newbie within a month's screen time people will ridicule me, yup agreed I was a total dumb to understand & was the greatest fool on this earth only to know that few eternal simple things work, no algo, NO Impact displacement (like Dubai hitting 1 CR unit sale/buy) has changed the basics of the Market.
My staying away for 2-3 yrs from Market has helped me understand now that Mkt still dancing on very few simple things, discarded own proprietary indicators of Metastock at least 45, in last few weeks given > 150 hrs post-market making algos & now ready with only 1 algo and another 75 % work done will need another at least > 50 Hrs for the second one.In this process learnt that any newbie should concentrate on few basics we lost lacks & at least a yrs time to start earning & there are at least few thousands live mkt Nifty trades posted in different forums to justify my loss (also huge) my profits (also humongous) ,but after at least 15 yrs find basics is same, learned from Saint Pivot, Learned from Karthik VSA, learned from Jesse how Algos take away the human subjective emotions learned from Oxymoron (few Metastock coding), spent > 100 hrs on Market Profile,these are useless unless a newbie learns Risk Reward, Position Sizing, first , seen without anything only with a simple chart 1 min chart Santanu earnings not months but since 15 yrs now.So boss many may not like but NO HI FUNDA only basics.

Last edited by uasish; 27-12-2016 at 10:22 PM.
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Old 28-12-2016, 09:04 AM
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@Uasish - though this is old wine ,a reminder once in a while puts me in the right direction . Please continue
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Old 28-12-2016, 07:05 PM
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Originally Posted by uasish View Post
If i say NOTHING complicated hi-fi is reqd only depending on simple things.

Everything can be understood within a month if u are mentored or u are directed properly towards that direction or you will devote time and your small doubts will be cleared time to time.
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Old 28-12-2016, 08:51 PM
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Nifty Futures Live

Here a test case is given, whether now Market reacts as per our
expectations if so we will then discuss how we came to these lines,
on what criterion these lines were drawn, it is a very simple age old method to learn will max take 5 mins but to study offline for 20 hrs on different volatile stocks would be needed to digest if Market discards then we will discuss something other simpler methods.
Frankly, a greater participation from newbies will motivate me to continue this thread.
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Old 28-12-2016, 09:42 PM
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Originally Posted by uasish View Post
Nifty Futures Live

Here a test case is given, whether now Market reacts as per our
expectations if so we will then discuss how we came to these lines,
on what criterion these lines were drawn, it is a very simple age old method to learn will max take 5 mins but to study offline for 20 hrs on different volatile stocks would be needed to digest if Market discards then we will discuss something other simpler methods.
Frankly, a greater participation from newbies will motivate me to continue this thread.

Sir, I may not be right, lines are drawn on the basis of gap up/down, at previous S/R
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Old 29-12-2016, 09:31 AM
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Originally Posted by maneverfix View Post
Sir, I may not be right, lines are drawn on the basis of gap up/down, at previous S/R

It will be disclosed for newbies step by step provided Mkt proves this simple method still works on (a test is given in Nifty Fut Live thread).
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